required

a) calculate the size of each of the four equal payments

b) prepare an amortization table for this installment note.

c) prepare journal entries that KEC environmental corp would make to record the loan on decmeber 31,2020 and four payments starting on dec 31,2021 through the final payment .

record the borrowal of $118000by singhing a 5%installment note.

record the first installment payment

record the secord installment payment record the third installment payment

record the fourth installment payments

On December 31, 2020, KEC Environmental Corp. borrowed $118,000 by signing a four-year, 5.0% Installment note. The note requires four equal payments of accrued interest and principal on December 31 of each year from 2021 through 2024. Use TABLE 14A.2. (Use appropriate factor(s) from the tables provided.) a. Calculate the size of each of the four equal payments. (Do not round intermediate calculations. Round the final answers to the nearest whole dollar.)